BUSINESS leaders are defying anti-Brexit sentiment by flocking to the UK for investment opportunities, according to a new survey.

The UK has emerged as the top place for those who do business with mergers and acquisitions despite political uncertainty creating questions about the economy. The EY biannual Global Capital Barometer survey put the UK in number one place for business destinations for the first time in the 10-year history of the list. This is followed by the USA, Germany, China, France, Canada, India, Australia, Brazil and the United Arab Emirates. The lowest the UK has ever ranked in the survey was back in October 2016 when it came in at number 7 on the list.

The ranking is based on responses from more than 2,900 corporate leaders and top managers in 47 countries.

The survey took place in February and March.

Meanwhile, today saw the Office for National Statistics release better-than-expected UK retail figures which revealed how sales surged in March.

Sales were up 1.1 percent on February, well above expectations of a fall of 0.3 percent.

They were driven by food and non-store retailing, the ONS said.

Brexit news: The Global Capital Barometer survey put the UK as number one for business destinations (Image: GETTY)

However all retailers except department stores and household goods stores saw an increase in sales in the three months to March 2019 compared with the previous quarter.

Department stores were the only store type to suffer a decrease in sales of 0.3 percent when compared with last March.

Year-on-year growth in the quantity bought increased by 6.7 percent in March, the highest since October 2016.

A range of stores noted the milder weather this year helped boost sales in comparison with the Beast from the East affecting shopper behaviour at the same time last year.

Figures for the first three months of the year show sales grew by 1.6 percent compared with the previous quarter, following sustained growth throughout the first three months of the year and the strongest increase since August 2018.